Sometimes the Department of Housing and Urban Development (HUD) takes a home when one of their loans become in default (Also known as foreclosure). HUD then offers these homes for sale through HUD HOMESTORE. You can visit HUD HOMESTORE and search for available homes for sale. If you want to look at, have questions about or want to place a bid on one of the homes, let’s talk. RE/MAX Assured Properties (my brokerage firm) remains registered with HUD allowing me to help owner occupied and investors bid on and purchase HUD homes. Buying a HUD home remains a process. Usually the homes are only available to owner occupied buyers (usually you must live in the home at least one year) for the first 30 days then they become available to investor bids/purchase.
If you have questions about or want to explore purchasing a HUD home, let’s talk. I am here to help. Fortunately we have not had a lot of HUD foreclosures in Central Virginia so there is not an overabundance of HUD homes for sale. There are opportunities for home buyers willing to work through the process!